Securities Contracts (Regulation) Act : Exclusion of spot delivery contracts from sections 13, 14, 15

Securities Contracts (Regulation) Act,1956

Act No : 42

Section : Exclusion of spot delivery contracts from sections 13, 14, 15 and 17.

18.Exclusion of spot delivery contracts from sections 13, 14, 15 and 17. (1) Nothing contained in sections 13, 14, 15 and 17 shall apply to spot delivery contracts. (2)Notwithstanding anything contained in sub-section (1), if the Central Government is of opinion that in the interest of the trade or in the public rest it is expedient to regulate and control the business of dealing in it delivery contracts also in any State or area (whether section 13 has been declared to apply to that State or area or not), it may, by notification in the Official Gazette, declare that the provisions of section 17 shall also apply to such State or area in respect of spot delivery contracts y or in respect of spot delivery contracts for the sale or purchase securities as may be specified in the notification, and may also the manner in which-, and the extent to which, the provisions of that section shall so apply.